2019 saw a completely new cryptocurrency market and 2020 is going to be no different. The speed at which the popularity of cryptocurrency is increasing, you can expect the year 2020 to be more beneficial for the cryptocurrency than 2019. We saw some new groups and companies like Coinipop entering in the cryptocurrency industry and more mature and strong encryption technology. Overall, cryptocurrency was able to get more appreciation from the global bodies— not so far in the future we’ll see them developing their own blockchain frameworks for promoting the use of cryptocurrency.
Let’s look into some new trends that are set to expand in the year 2020.
Considering the expansive set of advantages, decentralized finance is going to be a big concept that will enter in the cryptocurrency industry. As of now, decentralized finance projects are now well over the value of $650 million. This concept was unacceptable and ignored in the past, but given the circumstances that we had to face, it is now accepted and becoming a reality.
It offers traders to integrate many options that are not possible with a centralized financial system. It can help to integrate with digital assets lending, no credit checks, instant transactions, and much more.
Ethereum is a known blockchain platform for everyone interested in blockchain technology or cryptocurrency. Ethereum 2.0 has completed its phase 0, and we can see its launch in 2020. The development team is working hard on it and regularly updating the development process. We can say that Ethereum 2.0 could be a popular trend in 2020.
Crypto derivates are one of those trends that are going to shape the crypto industry in 2020. Crypto derivatives exchanges like Coinipop, were previously very limited, but it is now an expanding concept. Which is not going to stop in 2020 also. We’ll observe a more competitive crypto industry in 2020.
Lightning network is developed for a range of cryptocurrencies that you can pay using this layer-2 payment protocol. It has proved to be a very helpful platform for crypto traders like Coinipop and many others, as it enables them to perform instant transactions at low rates.
As expected in the future or year 2020, we’ll see more nodes and channels build on this infrastructure.
Privacy in transactions
Cryptocurrency traders are concerned about the anonymity and privacy of the transactions. The year 2020 will see a huge development in providing high-class privacy tools. Companies and traders will be able to perform their crypto transactions more privately and anonymously with the privacy tools by Ernst & Young.
The purpose is to help the traders to perform secure and anonymous transactions using the public net without worrying about their privacy. You can perform cryptocurrency transactions at Coinipop with complete privacy. As the need is increasing, we’ll see better privacy tools as more companies will be coming forward in the competition to develop high-quality privacy tools around cryptocurrency transactions.
In America, a state has regulated the use of cryptocurrency by passing 13 laws related to digital currency. This is something we’ll experience even more in 2020 as the tech-giants are coming forward in support of blockchain and cryptocurrencies. Eventually, the governments have to look into the matter and regulate the cryptocurrency. This would help everyone to get more benefits out of cryptocurrency and blockchain.
Digital assets and digital currency are already developing into a force to reckon with. The year 2020 is going to be a breakthrough for the cryptocurrency ecosystem as a whole.